[p2p-research] Micro-Finance in India Stumbling

[j.martin.pedersen]

On 19/11/10 14:45, Michel Bauwens wrote:
> it seems to me that what was probably a genuine innovation in bangladesh
> under yunus, has become fodder for proft maximisation outfits that are using
> the model for other purposes ..
> 
> it may be just a case of inadequate regulation,

Yes, they forgot to reconfigure property relations (i.e. they based it
on the individual exclusivity model) and they forgot to change the way
in which money is made through debt.

They also forgot to read history books.

And ignored the analyses.

They enclosed commons in the name of the self-interested agent - thus
perpetuating a culture of destruction and greed.

Best of all, they called it "something good".

Tragedy returns as farce, and they are laughing all the way to the bank....